China’s official economic data is notoriously suspect, so power demand is often viewed as...

China’s official economic data is notoriously suspect, so power demand is often viewed as a good proxy for what’s really happening on the ground, and Jefferies' Joseph Fong thinks China’s power usage is showing strong growth. Fong sees an 8%-10% increase this month, a 5%-6% gain for all of 2012 - impressive, considering demand rose just 3% in August - and forecasts power demand to grow 4.8% in 2013.

Mr. President, where is my XL Pipeline????? It seems China doesn't have a problem with Canadian Oil, Coal, Nat Gas, LNG. China's energy build out equates to 1 light bulb to ever 100 people now, what happens in ten years when it goes to 2 bulbs. Almost impossible to stop the need for energy there and we haven't thrown in India yet. Let's get that Canadian oil locked up and develop our Domestic resources before it's to late.

Perhaps Joesph Fong of Jefferies should also tune in to the weather channels in mainland before penning his conclusion. The diabolic weather could be the root cause of China recent surge in power consumption.